What are the Strategies of knowledge management

In the emerging knowledge society, knowledge is being recognised in an increasing measure as a primary source of wealth production. Economies that can efficiently exploit their knowledge resources are doing better than those that have abundant natural resources but lack the knowledge to exploit them. The vast and deep impact on the social and economic environment caused by technology and globalisation has forced organisations worldwide to make significant changes to their objectives, strategies, and organisational structures in order to adapt, survive and succeed in the 21st century. Organisations need to become wired, retooled and networked; but also need to change both the extrinsic elements of their products, activities and/or structures and their basic intrinsic way of operating-values, and mind-set, and sometimes even their purpose.

Organisations must learn very quickly in order to adapt to rapid environmental changes to survive and succeed. Thus, today's organisation has little choice but to transform itself into 'learning' organisation, one of the principal purposes will be the expansion of knowledge that comes to reside at the core of what it means to be competitive and productive. The organisation should develop the capacity to collect, store and transfer knowledge and thus continuously transform itself for corporate success. Technology should be judiciously utilised to optimise both learning and productivity.